Neville is a student applying for a loan to purchase a laptop to assist in his studies at Strathmore University and this is his story:
I live in a family of six siblings. I am in year one of my Bachelor of Commerce degree. I have a strong passion for IT and programming, which I am studying on my own.
Strathmore University undoubtedly offers the best quality in Kenya's higher education. That is why it is my university of choice. In many ways, this laptop loan will aid in the realization of my dream to become an established programmer and IT guru. Furthermore, it will see me through to contribute to the advancement of education in IT and probably create jobs for the many jobless Kenyans.
I am self-driven and highly motivated with big dreams and great passion for learning and creating new things. I also love charity work and – God willing, if my dreams come true – I would like to be a major contributor to Kiva loans to extend the help offered to the needy and less fortunate around the world. Owning a laptop will be a milestone towards achieving this dream.
This Kiva loan will be used to provide borrowers with needed goods or services, as opposed to cash or financial credit.
Strathmore University is one of the leading private chartered universities in Kenya, and is a privately owned, not for profit institution. Originally established in 1961 as an Advanced-level Sixth Form College with inspiration and encouragement from Saint Josemaria Escriva, founder of Opus Dei, Strathmore University started offering degrees in 2002 before becoming fully chartered in 2008.
Strathmore University is a non-traditional Field Partner, in that they are an educational institution, not a microfinance institution. Lenders to these loans should be aware of the following:
1 - You might not begin to receive repayments on this loan for many years, and this loan may have terms as long as 11 years. The full-tuition loans administered by Strathmore University can have loan terms of up to 11 years, which includes a grace period of up to 5 years. The grace period includes the time during which the student is enrolled at the university, and the first year after graduation. During the grace period, the borrower is not required to make any repayments, and you would not receive any repayments. Please be sure the loan terms and repayment schedule of this loan suit you.
2 - Administering loans is a new activity for Strathmore University, which can increase the risk on this loan. While most Kiva Field Partners are microfinance institutions and therefore experienced at administering loans, Strathmore University's core business is providing education, and they are inexperienced at administering loans. This partner has passed Kiva's due diligence requirements for a non-traditional Field Partner, however lenders to this loan should be aware that this loan carries some additional risk as Strathmore University becomes more experienced with administering loans to students.
For more information on Strathmore University, and the Kiva loans they are administering, please visit the Field Partner page.